Brussels, 04/10/2002 (Agence Europe) - The European Commission has approved a scheme called designed to improve access to capital for small businesses, business start-ups and community projects in disadvantaged regions throughout the United Kingdom. The goal is to revive economic activity in the country's most deprived areas. The Community Investment Tax Credit (CITC) is a system that provides tax relief for corporations and individuals who invest in specialist financial intermediaries (Community Development Finance Institutions). These financial intermediaries will pass on the collected funds to small and medium-sized enterprises and charitable projects in disadvantaged regions. Strict conditions must be met in order to be eligible for tax relief. Before being permitted to grant the tax relief to investors, Community Investment Tax Credit Institutions will first have to seek accreditation from the Small Business Service (SBS), an executive agency of the UK Department of Trade and Industry. Once accredited, CDFIs must seek re-accreditation every three years. The maximum amount of tax-advantaged investment that an accredited CDFI may attract within a three-year period is £ 20 million (€ 31.9 million). The Commission has examined the different aspects of this system and reached the conclusion that no State Aid was involved in the field of application and complied with the relevant rules that apply in this area.